« In my opinion, we got more evidences that a “bear market” could have started…

1) Monday August 24th dramatic 1,000 points drop in the Dow at the opening. That was not a so-called “flash crash”, but something more serious.

2) The first leg of the rally from this low started as a 3 waves movement, corrective, so against the trend that is now down (according to Elliott Wave Theory).

3) The rally ended on Thursday, September 17 on a “key reversal day” (prices hit a new high and closed down for the day) which is often “bearish”.

4) Last week (ended on September 18) was also a “key reversal week” (prices hit a new high and closed down for the week) which is often “bearish”.

5) The S&P500 and the Dow Jones are below their support (see charts ).

With all the rest (that I will not mention here), this is enough, in my opinion, to be “bearish. Time will tell if this is correct…

Good luck!